A.M. Edition for Feb. 20. Authorities from France, Norway, the U.K. and elsewhere across Europe are investigating evidence of potential crimes within recently-released Jeffrey Epstein files, while Justice Department officials say those documents warrant no further prosecutions. WSJ reporter Matthew Dalton breaks down their differing approaches. Plus, warning signs from the private-credit market invite comparisons to the runup to the global financial crisis. And President Trump orders the release of government files on UFOs after former President Obama says aliens exist. Luke Vargas hosts. Sign up for the WSJ’s free What’s News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

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“What did the council decide on item 42?” — answered with the speaker and the moment.